Cabinet studies carried out by the Institute of Global Economic Problems make it possible to say with confidence that soon the economy of Azerbaijan in the face of the petrochemical complex will have competitive industries. The Chairman of the Institute of Global Economic Problems Natig Shirinzade told about this to agency Trend.
This will be an important contribution to the broad-profile economic policy of the state, conducted under the leadership of the President of Azerbaijan Ilham Aliyev.
In particular, the Azerkimya production association, which is on the balance sheet of SOCAR (State Oil Company of Azerbaijan), has taken a course on innovation policy and modernization of production at its own expense, as well as foreign investments and technologies.
The competitiveness of industrial products is largely determined by the state and capabilities of fixed assets. Degree of depreciation of fixed assets of enterprises of the petrochemical complex remains high.
Most of the production capacity is in the final stage of the life cycle, which causes an increase in operating costs, a decrease in the quality and competitiveness of the products. Innovations, especially large-scale ones, have a great positive impact on the financial and economic activities of the enterprise and significantly increase its market value.
In addition, intellectual property objects, which include trademark rights, brands, business reputation, "goudwill" also create the market value of the company, increasing the amount of money and speeding up their inflow.
The implementation of the modernization strategy will allow to weaken the dependence of the country's economy on the import of science-intensive products, expand high-tech exports, increase tax revenues to the country's budget and export revenues.
The market needs in chemical and petrochemical products will also be provided; Formed effective market-based business structures of a new generation; Innovation activity and the level of renewal of fixed assets of chemical, petrochemical and related industries will increase. The strategy will increase the demand for qualified scientific and technical personnel and reduce their outflow.
At the present time, the quantity has decreased and the qualitative composition of scientific employees has changed in the branch scientific and design organizations. Personnel are getting old, there are no conditions for attracting and securing young specialists in most scientific organizations.. In such a situation, it is extremely difficult to ensure the reproduction of personnel, the purchase of licenses for highly efficient new technologies, the concentration of innovative activities in the development and implementation of wasteless technological processes with a limited number of operations and deep processing of raw materials. The strategy of entering the global market with high-tech products requires the development of nanochemistry. The activities of the Azerkimya PA in recent years, taking into account the introduction of international management standards, allows us to make an optimistic forecast in this direction.